Linda purchased a cottage in 1 9 8 4 for $ 6 2 , 0 0 0 ; on February 2 2 , 1 9 9 4 , it was valued at $ 1 2 6 , 0 0 0 . On her 1 9 9 4 tax return, Linda elected to make use of her remaining lifetime capital gains exemption in the amount of $ 5 5 , 0 0 0 by recognizing a notional disposition on the cottage . If Linda sells the cottage today for $ 6 7 0 , 0 0 0 , how much of a capital gain will Linda realize?

a ) $ 5 5 3 , 0 0 0

b ) $ 6 1 5 , 0 0 0

c ) $ 5 2 6 , 5 0 0

d ) $ 6 0 8 , 0 0 0